So, your offer has been accepted – congratulations! 🎉 But before you start packing boxes, it’s important to understand that you’re only part-way through the home buying process.
The next stage, known as ‘completion’, involves several steps – from legal checks to mortgage arrangements – and it typically takes between 8 to 12 weeks in the UK. However, timescales can vary depending on factors like the property chain, financing delays, and search results.
Let’s walk through what to expect after your offer is accepted and how long each step might take.
What is ‘completion’ in a property transaction?
Completion is the final stage in the property buying journey, when funds are transferred and you officially become the legal owner. It’s also the day you get the keys and can move in.
The time between offer accepted and completion can be frustrating if you’re unsure what’s happening behind the scenes. Here’s a timeline to help you plan better.
1. Instructing your solicitor or conveyancer (1–2 days)
Once your offer is accepted, you should immediately appoint a solicitor or licensed conveyancer to begin the legal work. This ensures no time is wasted preparing contracts and initiating the necessary searches.
2. Mortgage application and approval (2–4 weeks)
Even if you already had a mortgage in principle, your lender still needs to carry out a full assessment and property valuation before issuing a formal offer. This step can take a couple of weeks, depending on how quickly documents are submitted and reviewed.
3. Property surveys and valuations (1–3 weeks)
If you decide to carry out a survey (which is highly recommended), factor in an additional 1–2 weeks to book and receive the report. Your mortgage lender will also need to complete their valuation, which may happen concurrently.
4. Legal searches and contract drafting (2–4 weeks)
Your solicitor will conduct local authority searches, drainage checks, environmental reports, and more. These can take up to a month depending on the local council’s speed. Meanwhile, the draft contract is drawn up and reviewed.
5. Enquiries and document exchange (1–2 weeks)
Once the searches are returned, your solicitor will raise any necessary enquiries with the seller’s legal team. This step ensures everything is clear before proceeding. Once all queries are resolved and your mortgage offer is secured, both parties agree on a completion date and exchange contracts.
6. Completion day! (Usually 1–2 weeks after exchange)
On completion day, funds are transferred and ownership changes hands. This typically occurs 7–14 days after contracts are exchanged, but the date can be flexible depending on your agreement with the seller.
Common delays that can affect your timeline
While the average transaction takes 2–3 months, several factors can extend the process:
- Lengthy property chains
- Delays in mortgage approval
- Slow responses from solicitors
- Incomplete paperwork or ID verification
- Issues raised during the property survey
Staying proactive and choosing experienced professionals can help minimise delays.
Looking to buy or sell in Falkirk?
Whether you’re a first-time buyer or moving up the property ladder, having the right experts by your side makes a huge difference. Working with experienced estate agents in Falkirk helps streamline the buying process and keeps your move on track.
At Belvoir, we provide personalised support from the moment your offer is accepted to the day you get your keys. Our team offers trusted guidance, property management expertise, and tailored advice for buyers, sellers, landlords and investors alike.
